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Bankruptcy judge puts off decision on SunEdison independent examiner
By Jessica DiNapoli NEW YORK (Reuters) – A U.S. bankruptcy judge on Friday put off making a decision on SunEdison Inc's request for an independent examiner at the company's first day in court. The U.S. renewable energy company, which filed for bankruptcy protection on Thursday, did receive approval on Friday to tap some of the $300 … View original here: Bankruptcy judge puts... [Read more]
Intel to cut up to 12,000 jobs as PC industry swoons
Intel Corp said on Tuesday it would cut up to 12,000 jobs globally, or 11 percent of its workforce, as it refocuses its business towards making microchips that power data centers and Internet connected devices and away from the declining personal computer industry it helped found. Tech companies including the former Hewlett Packard Co and Microsoft Corp have reorganized in the See the original post: Intel... [Read more]
Apple refused China request for source code in last two years: lawyer
Apple Inc has been asked by Chinese authorities within the last two years to hand over its source code but refused, the company's top lawyer told lawmakers on Tuesday in response to U.S. law enforcement criticism of its stance on technology security. The congressional testimony highlighted an issue at the heart of a heated disagreement between Apple and the FBI over unlocking encrypted data from... [Read more]
The global oil deal that never came to be
It was supposed to be the easiest deal ever reached among key oil market players, a mere formality. Eighteen countries were gathering in the Qatari capital of Doha to rubber-stamp the first joint agreement between major OPEC and non-OPEC nations in 15 years, tackling a huge global glut after flooding the market for two years. Oil prices were rising. See the rest here: The global oil deal that never... [Read more]
United Airlines gate agents, baggage handlers approve new contract
United Continental Holdings Inc and its union said Saturday that workers voted in favor of contracts hiking the pay of some 30,000 baggage handlers, gate agents and other groups, a dramatic reversal from a year ago when the No.3 U.S. airline mulled outsourcing some of these jobs. The news marks a vote of confidence by… More: United Airlines gate agents, baggage handlers approve new contract Read More →
Doha oil freeze talks face last-minute trouble
By Rania El Gamal and Reem Shamseddine DOHA (Reuters) – A meeting between OPEC and non-OPEC oil producers on an agreement to freeze output ran into last-minute trouble in Qatar on Sunday due to a new request by OPEC's de facto leader Saudi Arabia, sources told Reuters. Oil… Go here to read the rest: Doha oil freeze talks face last-minute trouble Read More →
McDonald’s targeting buyout firms as it seeks to sell North Asia stores
McDonald's Corp is targeting private equity firms, including Bain Capital, MBK Partners, TPG Capital Management and Chinese state-backed conglomerate China Resources (Holdings) for its planned sale of 2,800 restaurants in North Asia, people familiar with the matter told Reuters. The U.S. fast food giant is adopting a new business model in Asia, which is now the most intense battleground for global... [Read more]
Wells Fargo’s systemic importance rose, says U.S. report
Wells Fargo & Co is the only large U.S. bank to become “significantly” more important to the global financial system in recent years, according to a report on Wednesday by a U.S. government research group. The Office of Financial Research, a financial stability watchdog housed within the U.S. Treasury Department, studied the … Read the original here: Wells Fargo’s systemic... [Read more]
Ford plans to move Michigan offices into two new modern campuses
By Joseph White DETROIT (Reuters) – Ford Motor Co said on Tuesday it will modernize and consolidate its sprawling Dearborn, Michigan, engineering and headquarters facilities over the next decade into two Silicon Valley-style campuses. The auto company plans to move about 30,000 employees now housed in 70 buildings, some of which were built in the 1950s. One location will be focused on engineering,... [Read more]
Financial turmoil at SunEdison imperils solar projects worldwide
In November, solar energy giant SunEdison Inc reported that its project pipeline had grown by 75 percent in just a year, the result of an aggressive growth strategy. Now, five months later, many of those projects are imperiled More: Financial turmoil at SunEdison imperils solar projects worldwide Read More →